Assistant Treasurer Stuart Robert to headline fundraiser about the banking royal commission

Assistant Treasurer Stuart Robert will headline a Liberal Party fundraiser that promises political donors an insight into the government's potential response to the banking royal commission.

The lunch, hosted by Liberal National Party backbencher Andrew Wallace, has been slammed by Labor as a crass attempt to capitalise on an explosive probe the Coalition had long opposed.

Assistant Treasurer Stuart Robert and the flyer promoting his appearance at a fundraiser about the royal commission.

"It’s appalling and disgusting that after voting against a banking royal commission 26 times, Scott Morrison and the Liberals now want to make a profit out of it," shadow treasurer Chris Bowen said.

"It’s a sickening insult to the victims of banking misconduct who are still trying to put their lives back together."

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A flyer promoting the event obtained by The Sydney Morning Herald and The Age promises LNP donors the opportunity "to learn more about what ramifications may arise for the finance industry from the royal commission into misconduct in the banking, superannuation and financial services industry."

The lunch at the Lake Kawana Hotel on Queensland's Sunshine Coast has been set for December 19 and costs $50 per person.

Mr Wallace defended the fundraiser and said it was better for his donors to gain an insight into the government's thinking from the minister "who is ultimately going to deal with the recommendations when they come in in February".

"I don’t think we’re profiting off the royal commission at all... there’ll be other issues that will be discussed," Mr Wallace said, naming Labor’s pledge to limit negative gearing tax incentives and capital gains tax cuts as other possible topics.

"The Sunshine Coast is heavily geared toward property investment and those two policies will significantly affect retirees."

Mr Wallace said the money raised from the fundraiser would only be small.

"I’m making twelve bucks a head out of it. I’ve kept the price so it’s not geared to the top end - you don’t get the top end on the Sunshine Coast."

Asked to respond to the criticism of the event, Mr Robert said: "That’s a complete load of straw-clutching crap."

"I’m going to the Sunshine Coast for several reasons including a speaking at a seniors forum on Labor’s retiree tax and to meet with local financial planners, as well as lunch with local stakeholders at a very modest price."

But Labor's treasury spokesman Chris Bowen said raising campaign funds based on a royal commission was an insult to bank victims and demanded Prime Minister Scott Morrison apologise.

Mr Robert is one of Mr Morrison's closest confidantes and was one of his key numbers men in the August leadership coup.

He was subsequently restored to the ministry despite being sacked by Malcolm Turnbull in 2016 for a secret trip he made to China to promote a mining deal benefiting his close friend and party donor Paul Marks. Mr Robert also indirectly held a stake in Mr Marks' company.

Since then, it has been revealed Mr Roberts may have breached of the constitution by owning a company which received tens of millions of dollars in company shares. Later, he transferred directorship of the company to his elderly father who said he had no idea about any of his son's companies.

Following his restoration to the frontbench, Mr Robert repaid $38,000 of "excess usage charges" in home internet bills footed by taxpayers.